IRMAA is an additional premium that higher-income Medicare beneficiaries must pay for Medicare Part B and Part D (prescription drug coverage). The IRMAA is based on the beneficiary’s modified adjusted gross income (MAGI) from two years prior. If an individual’s income exceeds certain income...
The Medicare income-related monthly adjustment amount (IRMAA) is a surcharge on Medicare Part B (medical insurance) and Part D prescription drug plan premiums. It applies only to Medicare beneficiaries with a modified adjusted gross income above $103,000 (individual return) or $206,...
Ask the Hammer: Will a QCD in Excess of One's RMD Help Reduce Modified Adjusted Gross Income for IRMAA Purposes? Understand and Avoid Medicare Scams By Nick Defenthaler, CFP®, RICP® Nick Defenthaler, CFP®, RICP®, is a partner, CERTIFIED FINANC...
IRMAA could potentially add to that cost since capital gains are included in calculating your modified adjusted gross income. On top of that, IRMAA is a so-called cliff penalty, meaning that—if you breach an IRMAA income threshold by $1—you have to pay the full surcharge for that incom...